“Extreme Affluence Is Shifting Away from Europe“: Investment Migration People in the News This Week

Investment migration people in the news this week included:

• Jacopo Zamboni and Juerg Steffen of Henley & Partners
• Citizenship invest
• Sanjay Sachdev of Leptos Estates
• Varun Singh of XIPHIAS Immigration
• Eugene Lim of K-Konsult Taxation
• Sidney Cheo of Seri Pajam Development 

Financial Times – Italy retains allure for rich Europeans fleeing higher taxes

Jacopo Zamboni, executive director for private clients at Henley & Partners, which helps wealthy people obtain investment visas and foreign citizenships, said the tax rise was “not perceived as legal uncertainty.”

[…]

“Clients see it as an adaptation of the price to the current circumstances,” he said.

Business Tech – 4 European countries where South Africans can buy citizenship

“Under the citizenship by investment provisions, an applicant is required to invest actively in the Austrian economy, for example, in the form of a joint venture or direct investment in a business that creates jobs or generates new export sales,” said Henley and Partners.

[…]

Henley and Partners said the Maltese process offers the world’s strictest due diligence standards and vetting.

Money Control – BLS International acquires Dubai-based Citizenship Invest to enhance citizenship programs

On the acquisition, BLS said the buyout of Dubai-based Citizenship Invest (CI) – an advisory firm – is subject to regulatory approvals, and is funded through internal accruals. CI has expertise in long-term visa through citizenship and residency programs, and will help broaden BLS’ offerings in the Visa and Consular space, the company said.

Fortune – Europeans are falling behind when it comes to creating wealth—but there are a handful of places defying the trend

“It’s clear that the story of centi-millionaires is one of dynamism and change. From the tech-driven booms in China and the USA to the emergence of new wealth hubs around the world, the geography of extreme affluence is shifting away from Europe,” said Juerg Steffen, the CEO of Henley & Partners, which analyses private wealth and immigration trends. 

Money Control – Wealthy Indians rush to buy property in Greece ahead of Golden Visa rule changes

The change led to a flurry of activity from Indian investors. “We saw a rush of Indian homebuyers in recent months, to the point where we sold out our available residential stock in Greece. Many investors purchased under-construction projects with handover periods of six-twelve months,” said Sanjay Sachdev, Global Marketing Director of Leptos Estates.

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“Greece and Cyprus remain top real estate choices for Indian investors, especially after countries like Portugal, Spain and Ireland closed their permanent residency programmes,” Sachdev said. Cyprus offers a similar investment entry point at €300,000 but recent changes limit the residency programme to two generations, excluding parents or grandparents.

Financial Express – Greece Golden Visa program sees major investment threshold hike

Varun Singh of XIPHIAS Immigration writes an article exploring the effects of Greece’s new Golden Visa investment threshold.

The program not only helped stabilize the market post-economic crisis but also spurred development in key areas such as Athens and the islands. However, this popularity also contributed to rising property prices, prompting the recent decision to raise the investment threshold​.

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In the short term, Greece might see fewer new applicants, particularly in prime locations like Athens and Santorini, where the investment minimum has nearly tripled. However, the €400,000 threshold in less populated regions may attract interest, redirecting investments toward areas previously overlooked, potentially sparking growth in those regions.

The Independent Singapore – Malaysia’s MM2H visa revamp sparks surge in interest from China’s wealthy youth

Eugene Lim of K-Konsult Taxation, a firm advising on the MM2H programme, noted the significant increase in inquiries, indicating a strong desire among the youth to relocate. However, he mentioned that applications are currently on hold pending the resolution of licensing issues.

[…]

Sidney Cheo of Seri Pajam Development reported that half of their inquiries this month were from China, indicating a demand that outstrips supply. Prime Minister Datuk Seri Anwar Ibrahim’s efforts to attract Chinese investment, including visits to China and hosting Premier Li Qiang, underscore Malaysia’s strategic approach to leveraging China’s economic prowess.

The Star – ‘Speed up MM2H processing’

Real estate specialist Leon Lee said both Indians and Chinese continue to be significant contributors to the MM2H programme.

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“Streamlining the application process and ensuring transparent guidelines will make the programme more accessible and boost investor confidence,” he added.

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“Budget 2025 must also enhance healthcare provisions for MM2H holders, which will make Malaysia more attractive to retirees seeking high-quality, affordable healthcare,” he said.